Is NCLT's nod to Jalan-Kalrock to own Jet Airways the end of miseries for the airline?
Is NCLT's nod to Jalan-Kalrock to own Jet Airways the end of miseries for the airline?
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Time of India
16 minutes ago
- Time of India
India smartphone shipments rebound in Q2: Report
New Delhi: The Indian smartphone market rebounded in the seasonally weak April-June quarter after two successive quarters of declines, growing by near 22 per cent sequentially and 7 per cent on year, driven by increased launches of new models from smartphone brands. Smartphone shipments grew from 32 million in Q1 25 to 39 million in Q2 25, as channels were more willing to accept fresh inventory ahead of the festive season, according to research firm Canalys data, available exclusively with ET. "Despite Q2 being a seasonally slow quarter with climate disruptions, limited retail footfall, and geopolitical tensions, the market still grew," said Sanyam Chaurasia, analyst at Canalys. Vivo and Oppo were the top brands contributing to the overall growth. The Chinese brands clocked double digit growth, on the back of new affordable handsets pushed through online channels, and new retail partnerships, Canalys said. Meanwhile, Samsung's shipments remained flat while Xiaomi saw another quarter of degrowth in its shipments, data from Canalys showed.
Time of India
29 minutes ago
- Time of India
India may relax rules for Chinese investment in electronics; but only with a tech transfer, partnership
Government is likely to support Chinese investments in the electronics sector if they involve joint ventures with Indian companies and include technology transfer, rather than just setting up assembly units, according to officials. Tired of too many ads? go ad free now This approach aims to strengthen domestic capabilities while ensuring greater value addition and knowledge sharing within the country. Officials told ET that the ministry of electronics and IT (MeitY) sees some Chinese investments as crucial for boosting local manufacturing and making the upcoming component incentive scheme successful. As a result, the ministry is supporting a relaxation of rules for investments from China. These perspectives align with industry stakeholders seeking governmental approval for partnerships with Chinese entities, and with Niti Aayog's suggestion to permit Chinese organisations to acquire up to 24% stake in Indian companies without additional scrutiny. This support for Chinese participation in electronics manufacturing follows the recent meeting between external affairs minister S Jaishankar and his Chinese counterpart Wang Yi in Beijing. Officials stressed that Chinese investments should only be allowed through joint ventures with Indian partners, with clear stipulations regarding technology and expertise transfer. "If some player just wants to add assembly lines in partnership with a Chinese firm, it won't be supported," ET reported, quoting an official. Another official said that domestic organisations need to acquire technological expertise, and Chinese support is essential for scaling up, given that many components and manufacturers are based there. Tired of too many ads? go ad free now Chinese investments are also crucial for enhancing local value addition in electronics products, a key governmental objective. The electronics sector has achieved over 20% local value addition within six to seven years, primarily driven by production linked incentives. The government aims to exceed 30% in two to three years and reach 38% within five years. China leads globally with 38% local value addition. "What is fundamentally important for the government is that an electronics ecosystem needs to develop in India and if some joint venture proposals enable this, then support will be provided," a senior electronics executive told ET. Indian companies are pressing for a review of trade relations with China, especially over the restrictions introduced through Press Note 3, a 2020 policy change that tightened foreign direct investment (FDI) norms for countries sharing a land border with India. The move came in response to the border clashes with China that year. Since then, India has ramped up local smartphone manufacturing and exports, reducing its reliance on Chinese imports. However, in what appears to be a retaliatory response, China has begun imposing informal trade barriers, especially targeting the electronics sector. Over the past eight months, these curbs have intensified, affecting manufacturing inputs and creating disruptions in supply chains. Adding to the concern, China has reportedly asked some of its firms to scale down or shut their operations in India and withdraw Indian staff, aiming to limit technology transfer to Indian companies. The latest blow came with China's restrictions on the export of key rare earth materials, critical components for smartphone manufacturing, sparking fears of input shortages. To counter this, India is rolling out a Rs 22,919-crore electronics component manufacturing scheme to boost domestic production. However, Indian manufacturers still rely on Chinese expertise for components, as Chinese firms currently dominate global supply chains. Industry representatives recently raised concerns with the Indian government, warning that China's informal restrictions could significantly impact competitiveness and threaten India's ambitious $32-billion smartphone export target for FY26. India's mobile phone manufacturing has surged from $26 billion in FY19 to $64 billion in FY25, with exports exceeding $24 billion. Once ranked 167th in India's export basket in FY15, smartphones have now become the country's top export item, with industry players urging the government to resolve the trade hurdles with China.
Time of India
an hour ago
- Time of India
Anthem Biosciences soars on debut: Shares jumps 3% after healthy listing - Should you buy now?
Anthem Biosciences shares surged 3.3% to Rs 746.70 during Monday's intraday trading session on BSE, after making a strong debut with a 27% premium over its IPO price. The company's IPO investors are now sitting on overall gains of around 31%, ET reported. The stock market welcomed Anthem Biosciences with a robust listing premium of 26.84%, opening at Rs 723 compared to its issue price of Rs 570. The IPO received an extraordinary response with 67.42 times subscription across investor categories. The offering consisted entirely of an offer for sale, with proceeds directed to existing shareholders. Prior to the public offering, anchor investors contributed Rs 1,016 crore. Should you buy the shares now? Prashanth Tapse, Senior VP (Research) at Mehta Equities, told ET that, "While post-listing valuations may appear premium, we believe these are justified by the company's strong fundamentals, differentiated capabilities, and the sector's long-term growth visibility." Based on the company's financial performance and industry position, he further advised investors to "HOLD" Anthem Biosciences with a long-term outlook. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fastest Selling Plots of Mysore from 40L | 40+ Amenities PurpleBrick Learn More Undo "For long-term investors, Anthem offers a strong structural story in a booming Indian CRDMO segment, which justifies the listing," he noted. The analysis suggests a short-term target of Rs 900, whilst long-term investors might consider holding for Rs 1,000 and beyond. For those who missed the IPO allocation, it's advisable to wait for price stabilisation, ET reported. Established in 2006, Anthem's operations span across drug discovery, development, and commercial manufacturing for both small molecules and biologics. The company's FY25 financial performance showed revenue growth of 30% to Rs 1,930 crore and profit increase of 23% to Rs 451 crore. EBITDA stood at Rs 684 crore with a 37% margin, maintaining minimal debt levels. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
